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Burger King raises the bar for Ibersol brand restaurant purchase - Empresas

Burger King raises the bar for Ibersol brand restaurant purchase – Empresas

Brands Iberia, the “master franchisee” of Burger King in Portugal and Spain, has increased the value of its offer to Ibersol, to 250 million euros, to purchase 119 restaurants of the Portuguese-owned brand in Portugal (through franchise agreements).

Previously displayed amount, on February 16, It was 230 million euros.

in the current situation Disclosed to CMVM, the Portuguese restaurant giant – which is exploring spaces for brands such as Pizza Hut, Kentucky Fried Chicken, Pans or Pasta Cafe – says Ibersol and RBI have “begin negotiations on an exclusive (six-week) basis regarding potential potential for the latter’s acquisition. on Burger King restaurants owned by Ibersol in Portuguese and Spanish territories.”

“These restaurants were indicatively assessed by Restaurant Brands Iberia against an ‘enterprise value’ of 250 million euros, on a ‘cash and debt-free’ basis, which could be increased by up to 7 million euros in relation to the potential use of tax credits,” the document adds. .

This proposal “remains subject to a set of assumptions and conditions, including, among other things, (i) the performance of the assurance due diligence process and (ii) the acquisition of internal licenses and external financing by the proposed entity.”

Ibersol asserts that its “Board of Directors” will continue to monitor this process, while keeping the market informed in due course.

It was on February 6th, when Burger King appeared Contract terminated With Ibersol to develop the brand in Portugal, arguing for non-compliance with the opening and redesign of restaurants, in a decision that this company considers “unfair and inappropriate”.

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Remember that Ibersol is one of the Four listed that will come out From the PSI-20 index.